Chile prosecutor seek to fine 6 carriers by USD 75 million

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Chile’s competition watchdog is asking a court to issue USD 75 million in fines as it accused six car carrier operators of forming a customer-allocating cartel, TradeWInds reports.

The National Economic Prosecutor’s office (FNE) filed charges in the country’s Free Trade Defence Tribunal (TDLC) against Chile’s Compania Sud Americana de Vapores (CSAV), Compania Chilena de Navegacion Interoceanica (CCNI), Eukor Car Carriers of South Korea, K-Line, Mitsui OSK Lines (MOL) and NYK Line of Japan.

The FNE’s move is among the latest developments in investigations in several countries into suspected price fixing in the car carrier trades.

The agency said the companies agreed to maintain their existing portfolios of customers shipping vehicles to Chile beginning in 2000.

FNE asked the court to issue the largest fine – about USD 25 million – against Eukor, which is majority owned by Norway’s Wilh Wilhelmsen and Sweden’s Wallenius Lines. CCNI, K Line and MOL are facing fines of about USD 12.5 million each.

The FNE has asked the court to waive fines against CSAV and NYK Line because of their cooperation during the investigation.